With the iPhone 5 release expected in coming September, Verizon customers seems to be holding on to their money in order to purchase the fifth-generation iPhone, an industry analyst reports.

Sachs Group analyst Jason Armstrong reports that “iPhone sales will likely be a touch below the 2.2 million,” that Verizon managed in first quarter, the iPhone 5 release within next few months is to be blamed for this dip in sales.

According to analyst, the drop-off in Verizon iPhone sales was expected. Verizon customers are not keen on locking themselves out of the upcoming iPhone 5 by signing new iPhone 4 contracts just a few months before the expected iPhone 5 release. Verizon Communications executives told the analyst that sales of other smartphones were “above expectations”, indicating that many customers are not even interested in the upcoming iPhone 5.

Android is currently leading the US Smartphones market with 38% market share. The iPhone currently holds 27% market share and has shown tremendous growth, Verizon iPhone 4 launch is thought to be one of the reason of this steady growth. [9to5mac]